For a fact, many people start-up businesses, and they face failures, so what do they do next, do they just give up, and allow life to toss them anyhow it chooses to? or they get back up and try again.
A wise man once said ” A true loser, is one who gives up without even trying, as long as you are trying, you aren’t a loser”
If you need a logical example of people who have faced failures so many times but still happen to be among the most successful people in the world, then take a wide look at the story of Walt Disney, Albert Einstein, Oprah Winfrey.
Let’s take a look at some of the mistakes first-time entrepreneurs make.
- Procrastination: For any business holder, procrastination leads to a downfall, not to talk of starters. Most first-timers tend to spend more time and money on a product’s features and functionality, that they don’t focus on selling the product.
- Putting on the “I know it all” attitude: If you bring this belief into any business, be sure the business will fail or better put, not progress. Always be open to people’s opinions and critics.
- Employing Your Friends: When starting a business, hiring people for your business will be your first choice, there will be this urge to hire your friends/ relatives to take up certain posts, but that won’t be good for you or your business because you have expectations from your staffs that should be met, but what happens when they don’t perform well and they don’t meet up to these expectations all the time, you have no choice but to fire them, but that won’t be easy if your friends are your staffs.
- Making a whole perfect plan: You know how we all have this perfect plan in our head, of how we want things to be, it’s nothing different with business starters, they have this perfect plan on how their business would go, that they end up not putting all of it to action. It’s easy to dream but actualizing it is the hard part.
Do you have a business of your own? Are you planning on starting one soon? try to avoid these common mistakes many business starters commit and see how you will excel in any business of your choice.